Liberty Development has cancelled three towers in Vaughan but a deposit refund won’t be enough to secure new homes for some buyers. The latest Toronto-area condo cancellation — Liberty Development’s Cosmos condos at Vaughan Metropolitan Centre — is raising questions about consumer protection for buyers who hand over large deposits on a pre-construction home only to learn months or years later that...

Major lenders hike rates following BoC decision Canada’s major banks have been quick to react to the Bank of Canada’s decision to raise interest rates to 1.25%. CIBC, RBC, Scotiabank and TD were among the first lenders to increase their prime lending rates by 25 basis points to 3.45%; the new rates take effect from today (Jan 18). The BoC rate hike was widely expected but what happens next is...